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The wake of -- -- thousands of homeowners will look to the federal government to pick up the tab but now the assistance program is deeply in debt.
And John Stossel who took some money for his own beachfront -- says.
He doesn't think the program should exist anymore you're not to explain -- to hustle I'm ashamed and guilty.
I build a beachfront house my father so that you not just on the edge of an ocean breeze and I correctly -- but can't I can't lose because there's this thing called federal flood insurance in the premiums are cheap.
But -- is that what happened to -- that that's somehow Cybill let's look at all the same and I have in front of the house and sure enough a couple of years later that sand washed away.
And show the -- the other picture.
The basement was gone you paid for a new base but there are -- and ever invited you there -- what you paid for anyway it went out again you paid again the whole house went.
You covered the house this is a program that encourages.
Relatively affluent people to build.
In danger what's the evidence on that -- you love dumping on this program there's a lot of people are going to be helped by this program so low -- not a hot headed and not -- wait a second then or not.
On the beach.
That are not on riverfront that are blocks -- and they've never anticipated that the ocean would come that the day would come.
They pay their premiums they're not rich people like you -- if you're so rich why would you give the money back.
Or I probably shot and I won't rip me off again I was -- -- also take Medicare and I probably should okay.
And Medicare right you take deductions and you taxes.
But -- isn't the point that little -- is the point is that just condemning people they're taking this that have paid their premium.
Rich folks like why is that -- battle Java itself real sure why was the federal government selling and I blame the politicians we don't have special.
I'd car insurance for Lindsay Lohan the people for blocks and they don't -- so it's a little -- -- nature -- Indian.
She -- not take the money.
Like you said that gloss should I listen I paid a premium amen to take the money of course you're gonna take the money okay the program that should stop the program stop.
Rewarding people for taking foolish risks of the problem is and and -- Peter's talking about this earlier.
FEMA program that -- people in areas that would -- flooded out.
If there wasn't that kind of insurance should be private insurance and maybe but right now.
You know -- -- that have been put the -- Is there that -- it doesn't that's why there's a federal program.
The politician we don't know right company three I feel -- is not taking care of the issue well you know it's a reason that private companies said.
-- -- -- -- -- -- -- -- Right government has a role in keeping us safe in police and protecting us from don't you think we would -- publisher when you -- the premiums he's in the government going to be.
Paying off these claims one -- the evidently he did in Katrina they paid off when there was no insurance.
In -- Katrina that's a mistake -- paying off everybody.
Pay off the truly needy is a great debate this like they -- all this money being poured into the post and it's because government subsidized.
And a lot of people would not have built houses along.
You know what -- Apparently had a dangerous.
You know might only happen -- -- -- him but he wouldn't built without the event a market provided the insurance the premiums for people like me would have been.
I went to the communities that people like you.
Built and built there what was the benefit the community -- you can say creating jobs there were business the coroner sure but you know then why aren't just break windows that creates jobs so it doesn't matter just break one.
We're going to break windows now create jobs for -- And it lets you build that house looks at that house again I've never seen a slight at John and they let you build an architect who built that -- -- Suddenly an architectural.
Matt sticks it was gonna -- and still -- Government -- wired those stilts because it was a -- area you know John I I knew you collected three times from the federal government it was an absolutely great deal pleasure insurance premium.
Each year with much couple hundred bucks was very cheap and you -- -- -- out of the politicians and all we know how to price that there will be floods all over the country will lose money on this now of course there billions in debt they insure more than a trillion dollars worth of property.
I got a feeling this -- -- the -- for you to talk about are your program.
Which shares that tonight over and Pakistan like junior -- jest I'm coming up his.
I'm not regularly wanna drag him integrity and started really coming in going to be at home reality -- -- you know amateurs -- -- --
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